Tuesday, October 21, 2008

2008-W One-Tenth Ounce Platinum Eagles Sold Out

On Friday, to the mixed delight and dismay of many collectors, the US Mint put the 2008-W Uncirculated and Proof Platinum Eaglesback on sale at reduced prices.

Today, the first of the re-offered coins has Sold Out. The sold out coin is the 2008-W Uncirculated Platinum Eagle 1/10 ounce size. It was priced at $134.95 (down from the prior price of $259.95). Even the reduced price represented a steep premium above the market price of platinum which is currently $893 per ounce.

The product page for the coin displays the message "Product Not Available." The coin has also been added to the US Mint's listing of products which are No Longer Available. To my knowledge, only Sold Out products have been listed on this page. This is perhaps some necessary confirmation after a year of mysterious extended suspensions and unexplained disappearing product pages.

Coin collectors apparently saw opportunity in the reduced price for this potential low mintage coin. This may be an early indication of the pent up speculative demand for the coins as well as the Mint's limited supply. I think we will see some other issues sell out in the coming days or weeks.

Later this week, we should also have some updated Mint sales figures from Numismaster which will give some indication of where the final mintages for the 2006-W Platinum Eagles may eventually land.

2 Comments:

The 1/10 ounce uncirculated had been showing up as available Nov 5 and now as you say it indicates not available. I note that the 1/4 Unc. ounce now says available Nov 6. Wonder if it will soon be indicated not available. Does the mint strike the coins but don't encapsulate them until there are orders? Wonder why the available on Nov XX message preceeds the not available message?